Bitcoin Murrey Math Lines neatly transferred from MT4 to Tradingview
As long as there is no confirmed cross down under such support, idea could be valid. This a post I am simply unsure of and would like to review in the future.
Bearish Butterfly Sell @ 77.900 Stop Loss @ 78.200 Take Profit @ 77.390 Lightly using Traders Dynamic Index Indicator
I do not say I know it all but Fibonacci retracement from red zone 38.2% to Fibonacci extension 161.8% fulfills move especially the NASDAQ Index. You can also appreciate the 2008 crash on DOW JONES & NASDAQ which was already dropping without much alarm as the crash was. So, after some struggling for about a year ('consolidating') the next crash may be near.
The future will prove if channel was true to be foreseen. Additionally, supposing market continues up to fulfill Fibonacci ABCD pattern price will reach ~$15,000. Clearly Speculative: Inverse Head and Shoulders? Answer: To be seen XD
Simple: Murrey Math Pivot levels for future reference
Basic trendlines for future reference.
Bearish Deep Crab Bearish ABCD Bullish Three Drives 2 of three identified show bearish market sentiment. Likely will now pullback for current reversal then selling will begin as an overall pullback uptrend. I expect RSI to bounce off MBL meaning it would form a new low for the uptrend we are witnessing.
Take Profits: 9300, 8650, 8000
I believe Bitcoin will rise from 6000, though I have limited knowledge on Elliot's Wave Theory on market behavior I have set what I theorize is to occur. Price will retrace at this point as it forms an uptrend. This I believe is the point of reversal to the upside. Bitcoin retraced to the 300 Daily EMA which I believe is sufficient. The T.D.I Indicator shows...
Self-Serve education lesson for use of Traders Dynamic Index. Potential profit of $563 starting trade with 1 Litecoin. If trading 2 Litecoins on the exchange would double profit and yes it would be quadrupled by starting out from 4 Litecoins. Must study intently before daring to trade, otherwise will lose for expectation and not study.
If I were always scanning the stock market it would have been really obvious to see this drop occur by means of the Traders Dynamic Indicator.
Fibonacci Retracement probable level is that of 50%, price drop to EMA 200, and as has been known Bitcoin retraces 40% its price so it would drop to near 11,000
Major retracement occurs approximately every 60 days. Following the pattern and using Fibonacci retracement to extensions to know price extension and approximate date range for the occurrence of 'reduced price'. IF $11,000 - $13,000 is the top, between $7000-$9000 can be the retracement price zone to buy at.
When seeing minor trendlines, to draw them and forget them until needed could be useful especially for a continuously rising cryptocurrency such as for Ethereum.
Testing my experience with the use of Traders Dynamic Index with at least 2 time frames I suggest Bitcoin price will drop to at least Fibonacci extension levels of 118% and 127%. Around $5,100